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Why Choose Us for Wire and ACH Fraud Verification

  • End-to-End Wire and ACH Fraud and Risk Solution Powered by Unmatched Data Assets. Transfer to us the liability and headache of bank account verification.
  • Our checklist that we follow guarantees your supplier’s wire and ACH instructions within 24 hours.
  • Our results are emailed back to you within 24 hours with our confirmation that the instructions are verified which are saved for your records and account update maintenance.
  • All that you have to do is log on to the verify portal with your security company ID and password, and then drag and drop the email correspondence from your supplier that includes the banking information that you need verified, and we will take it from there.
  • No more playing phone tag.
  • Allows your Treasury Staff to focus on Cash Forecasting, Cash Positioning, and other Treasury functions instead of running down Suppliers to validate.

Transfer the liability to us and know that it is done right. We are so confident in our process that we guarantee the accounts that you send to us to verify. If you send a wire or an ACH that results in a loss to a fraudulent account that we verified for you, we will reimburse your losses up to $25,000 (guarantee details in the service contract).

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Our Process Includes:

  1. Closely review the email correspondence for red flags that may point to a fraudulent request.
  2. Cross-check the wire instructions against our vast database of verified banking data.
  3. Contact the supplier who sent the instructions with a phone number that is generated from an independent source other than the email request.
  4. API link that allows us to identify potentially fraudulent accounts.
  5. Once verified, we will send back to you a confirmation within 24 hours.

To get started, we need to know the following, and then we will submit a service agreement.

  1. How many ACH and wire transfers do you submit per month?
  2. How many suppliers do you have in your system?
  3. What is the average amount of the typical wire or ACH?
  4. Approximately how many ACH and wire change requests and new suppliers per month?

Why Is Account Validation Important?

Account validation can serve many purposes.

  • Help meet account validation regulatory requirements or strengthen existing fraud detection processes.
  • Reduction of administrative returns.
  • Reduction of unauthorized returns when utilizing account name verification.
  • Eliminate fraudulent claims disbursements.
  • Reduce account takeover risk on changes to payment accounts when compared to the customer information on file.
  • Increase the enrollment throughput of qualified customers.
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